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GS Home Shopping Q3 profit falls YOY

GS Home Shopping Inc. said its normalized net income for the third quarter was 1,995.51 South Korean won per share, a decline of 35.6% from 3,100.35 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.45 billion won, a decline of 35.9% from 19.41 billion won in the prior-year period.

The normalized profit margin fell to 4.9% from 7.5% in the year-earlier period.

Total revenue decreased year over year to 254.90 billion won from 258.95 billion won, and total operating expenses rose year over year to 238.39 billion won from 232.61 billion won.

Reported net income fell 42.6% from the prior-year period to 11.97 billion won, or 1,918.18 won per share, from 20.86 billion won, or 3,331.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.